Amendments for SB22-159

Senate Journal, April 6
After consideration on the merits, the Committee recommends that SB22-159 be amended
as follows, and as so amended, be referred to the Committee on Finance with favorable
recommendation.
Amend printed bill, page 2, line 9, strike "inequities" and substitute "inequities,
including".

Page 2, line 10, strike "color." and substitute "color, immigrant or mixed-status
households, low-wage earners, older adults, people with disabilities, and others
living on fixed incomes.".

Page 2, strike lines 11 and 12 and substitute:

"(b) Currently, Colorado requires approximately 225,000 affordable
for-sale and rental homes to address the state's housing crisis, and the Colorado
housing and finance authority".

Page 3, after line 1 insert:

"(c) The average home price in the state increased 130% from 2011 to
2021. Statewide, the median home price increased an additional 7% from
January to February 2022, and the median price is now $555,540, a 90%
increase over March 2021. The townhome and condominium market also
reached a new pricing level in February 2022, and the median price of such
units now stands at $402,390, which is an increase of 17% from February 2021.
Six out of 10 Colorado households are unable to afford the average priced
home.".

Reletter succeeding paragraphs accordingly.

Page 4, lines 18 and 19, strike "to access capital," and substitute "access to
capital, and by engaging in concerted outreach and education concerning the
availability of this program,".

Page 5, line 4, strike "developments." and substitute "developments, and the
purchase of land or buildings for future development within a defined timeline.
In addition, funding to maintain existing affordable housing through projects
that incorporate permanent supportive housing is intended to compliment
tangential legislative efforts and aims to support individuals experiencing
homelessness, victims of domestic violence or sexual assault, and individuals
living with disabilities.".

Page 5, line 25, strike "TWENTY" and substitute "FORTY".

Page 6, line 2, strike "TWENTY" and substitute "FORTY".

Page 6, strike lines 24 through 27 and substitute:

"(i) "MIXED INCOME DEVELOPMENT" MEANS HOUSING THAT
INCORPORATES MIXED INCOME DEVELOPMENT IN THAT SOME, BUT NOT ALL,
HOUSING UNITS WITHIN A PARTICULAR DEVELOPMENT HAVE RESTRICTED RATES
AT OR BELOW THE INCOME LEVELS SPECIFIED IN SUBSECTION (1)(b) OF THIS
SECTION IN ADDITION TO SOME UNITS THAT ARE ABOVE SUCH INCOME LEVELS
WITH OR WITHOUT SUCH RESTRICTED RATES.".

Page 7, strike lines 1 through 4.

Page 8, after line 8 insert:

"(d) ANY LOAN MADE UNDER THE LOAN PROGRAM BY THE STATE, ANY
DEPARTMENT, DIVISION, OR AGENCY OF THE STATE, OR ANY ADMINISTRATOR TO
A DISTRICT, AS DEFINED IN SECTION 20 (2)(b) OF ARTICLE X OF THE STATE
CONSTITUTION, MUST EITHER BE APPROVED BY THE VOTERS OF THE DISTRICT IN
ACCORDANCE WITH SECTION 20 (4)(b) OF ARTICLE X OF THE STATE
CONSTITUTION OR BE STRUCTURED SO THAT IT IS NOT A MULTIPLE-FISCAL YEAR
DIRECT OR INDIRECT DISTRICT DEBT OR OTHER FINANCIAL OBLIGATION
WHATSOEVER THAT REQUIRES VOTER APPROVAL UNDER SECTION 20 (4)(b) OF
ARTICLE X OF THE STATE CONSTITUTION.".

Page 8, lines 15 and 16, strike "DEVELOPMENT PROJECTS," and substitute
"DEVELOPMENT,".

Page 8, line 21, strike "HOUSING AND" and substitute "HOUSING,".

Page 8, line 22, after "STRUCTURES," insert "LAND, AND BUILDINGS,".

Page 8, after line 25 insert:

"(c) INCREASE THE SUPPLY OF NEW AFFORDABLE FOR-SALE HOUSING
STOCK BY PROVIDING FUNDING TO ASSIST WITH THE COST OF CONSTRUCTION,
INCLUDING BUT NOT LIMITED TO COSTS ASSOCIATED WITH LAND ACQUISITION,
TAP FEES, BUILDING PERMITS, OR IMPACT FEES.".

Reletter succeeding paragraphs accordingly.

Page 9, line 7, strike "(3)(c)" and substitute "(3)(d)".

Page 9, line 10, after "THE" insert "PURCHASE OF AND THE".

Page 9, line 12, after "HOUSING" insert "UNITS, INTEGRATED INTO
NONSEGREGATED HOUSING DEVELOPMENTS,".

Page 10, after line 2 insert:
"(f) CREATE PERMANENTLY OR LONG-TERM AFFORDABLE
HOMEOWNERSHIP OPPORTUNITIES".

Page 10, line 26, strike "AND".

Page 10, after line 26 insert:

"(i) THE MEANS BY WHICH ELIGIBLE RECIPIENTS WHO FACE BARRIERS IN
ESTABLISHING BORROWER RELATIONSHIPS WITH TRADITIONAL LENDERS WILL BE
INFORMED OF THE LOAN PROGRAM AND ENCOURAGED TO APPLY FOR A LOAN
FINANCED THROUGH THE LOAN PROGRAM; AND".

Page 10, line 27, strike "(i)" and substitute "(j)".

Page 11, strike line 14 and substitute "OPPORTUNITIES;
(IV) INCLUDE UNITS THAT ARE RESTRICTED FOR RENTAL USAGE TO
PERSONS WITH DISABILITIES OR THAT INCLUDE UNIVERSAL DESIGN FEATURES
THAT ALLOW INDIVIDUALS TO RESIDE IN THEIR DWELLING UNITS AS THEY AGE;
OR".

Renumber succeeding subparagraph accordingly.

Page 14, line 11, after "MONEY," insert "THE USE OF LOAN MONEY ALONG THE
HOUSING AND INCOME SPECTRUMS, THE AMOUNT OF TIME FROM COMPLETION
OF A LOAN APPLICATION THROUGH THE FUNDING OF A LOAN,
RECOMMENDATIONS CONCERNING FUTURE ADMINISTRATION OF THE LOAN
PROGRAM,".


Local
Government


House Journal, May 2
39 SB22-159 be amended as follows, and as so amended, be referred to
40 the Committee on Appropriations with favorable
41 recommendation:
42
43 Amend reengrossed bill, page 10, line 27,strike "policies." and substitute
44 "policies - eligibility for loan funding. (a)".
45
46 Page 11, line 4, strike "(a)" and substitute "(I)".
47
48 Page 11, line 7, strike "(b)" and substitute "(II)".
49
50 Page 11, line 9, strike "(c)" and substitute "(III)".
51
52 Page 11, line 10, strike "(d)" and substitute "(IV)".
53
54 Page 11, line 12, strike "(e)" and substitute "(V)".
55
1 Page 11, line 13, strike "(f)" and substitute "(VI)".
2
3 Page 11, line 15, strike "(g)" and substitute "(VII)".
4
5 Page 11, line 16, strike "(h)" and substitute "(VIII)".
6
7 Page 11, line 18, strike "(i)" and substitute "(IX)".
8
9 Page 18, line 22, strike "(j)" and substitute "(X)".
10
11 Page 18, after line 23 insert:
12 "(b) (I) IN CONNECTION WITH THE POLICIES FOR THE LOAN
13 PROGRAM THAT THE DIVISION OR THE ADMINISTRATOR IS REQUIRED TO
14 ESTABLISH AND PUBLICIZE PURSUANT TO SUBSECTION (5)(a) OF THIS
15 SECTION, THE POLICIES MUST SPECIFY THAT, IN ORDER FOR AN ELIGIBLE
16 RECIPIENT TO OBTAIN LOAN FUNDING DIRECTLY FROM THE DIVISION, AN
17 ELIGIBLE RECIPIENT MUST FOLLOW PROCEDURES THAT SHALL BE SPECIFIED
18 BY THE DIVISION TO DOCUMENT THE AMOUNT OF LEVERAGED FUNDS
19 PROPOSED OR COMMITTED AS PART OF A LOAN APPLICATION AND THE
20 AMOUNT OF FUNDING SOUGHT FROM OTHER SOURCES, INCLUDING
21 DEMONSTRATED EFFORTS BY THE ELIGIBLE RECIPIENT TO OBTAIN
22 FINANCING FOR LOAN FUNDING FROM FINANCIAL INSTITUTIONS.
23 (II) NOTWITHSTANDING ANY OTHER PROVISION OF LAW, A LIEN
24 FILED BY THE DIVISION, IS SUPERIOR ONLY TO ANY OTHER LIEN PLACED ON
25 THE SAME ASSETS THAT IS FILED LATER IN TIME EXCEPT FOR A LIEN FOR
26 UNPAID PROPERTY TAXES.".
27
28

House Journal, May 3
34 Amendment No. 1, Finance Report, dated May 2, 2022, and placed in
35 member’s bill file; Report also printed in House Journal, May 2, 2022.
36
37 As amended, ordered revised and placed on the Calendar for Third
38 Reading and Final Passage.
39